SmartGurlz is an innovative company that took the world by storm when it appeared on the popular television show Shark Tank. The company’s unique approach to education and empowering young girls through technology made it a standout. But what has happened to the company since its TV debut? Where is it now, and what has it achieved?
Smartgurlz’s Shark Tank Pitch: Did It Secure a Deal?
Sharmi Albrechtsen, the brains behind SmartGurlz, made her appearance on Season 9 of Shark Tank. Her goal? To secure an investment of $200,000 in exchange for just 5% equity in her company. However, the sharks had a different idea.
After some intense negotiations, Albrechtsen agreed to a deal with Daymond John. The deal consisted of $200,000, but in exchange for a much higher equity stake of 25%. Although this was a significant increase from her initial offer, it was a step down from John’s initial demand of 30%.
Though the deal was agreed upon on the show, it unfortunately did not materialize afterwards. However, far from being a setback, this development did not hinder the company’s growth or success.
Is Smartgurlz Still in Business?
Despite the Shark Tank deal falling through, SmartGurlz has shown remarkable growth over the years. By 2018, the company had chalked up an impressive $1.2 million in sales. But the success didn’t stop there.
In an effort to further expand and diversify, Albrechtsen raised an additional $525,000 through the WeFunder crowdfunding platform in 2019. This allowed her to partner with Pitsco Education to create SmartBuddies, an online coding curriculum for elementary schools. This collaboration led to Pitsco committing to purchase $5.5 million worth of SmartGurlz products over the following three years.
The year 2020 saw the valuation of SmartGurlz rise to $9 million. The company had sold around 50,000 units by this time, resulting in over $3.2 million in revenue. By 2021, the company’s growth was projected to generate nearly $20 million in revenue and had grown to over $20 million in annual sales.
Recent updates reveal that the company successfully adapted during the Covid-19 pandemic by transitioning the SmartBuddies curriculum to an online format. Furthermore, SmartGurlz secured a licensing deal with Sinking Ship Entertainment to create dolls based on characters from the PBS show Odd Squad.
As of June 2024, the company’s products are currently out of stock, and their social media activity has slowed down. SmartGurlz continues to be listed on its official website, but there are hints that the company may not be operating at the same level as before.
In addition to her role as CEO of SmartGurlz, Albrechtsen has co-founded Simply Shroom Cafes in Scottsdale, Arizona. This showcases her versatility and determination as an entrepreneur. Despite some hiccups, SmartGurlz is a testimony of her tenacity and commitment to creating a positive impact through technology and education.
What’s Happened Since Shark Tank?
Since its appearance on Shark Tank back in season 9, SmartGurlz has been on an exciting journey of growth and expansion. The deal with the shark, Daymond John, didn’t go through as planned, but that didn’t slow down the company’s progress. The founder, Sharmi Albrechtsen, showcased her entrepreneurial resilience and continued to drive the company forward.
During the Covid-19 pandemic, SmartGurlz quickly adapted to the new norm. The company transitioned the SmartBuddies curriculum to an online format. This move proved to be a smart one, allowing them to continue offering their educational services despite the challenging circumstances. This is a clear demonstration of how a company can pivot and adapt in the face of adversity.
Moreover, SmartGurlz made a significant move by securing a licensing deal with Sinking Ship Entertainment. This deal allowed the company to create dolls based on characters from the popular PBS show, Odd Squad. This partnership not only broadened their product range but also provided a unique way to engage their target market.
Smartgurlz’s Net Worth and Growth
Post-Shark Tank, SmartGurlz experienced significant growth which is quite evident from their sales figures. The company recorded an impressive $1.2 million in sales by 2018. This figure is a strong indicator of the company’s potential and the market’s positive response to its products.
In 2019, the company managed to raise an additional $525,000 through the WeFunder crowdfunding platform. This funding played a crucial role in fueling their growth and expansion. It allowed Albrechtsen to partner with Pitsco Education, and together they developed SmartBuddies, an online coding curriculum for elementary schools.
The company’s growth trajectory continued to soar, and by 2020, SmartGurlz had a valuation of $9 million. They sold around 50,000 units by this time, resulting in over $3.2 million in revenue. By the end of 2021, the company’s growth was projected to generate nearly $20 million in revenue and had grown to over $20 million in annual sales.
How Shark Tank Helped Shape Smartgurlz’s Future
Appearing on Shark Tank was a game-changer for SmartGurlz. Although the deal with Daymond John did not materialize, the exposure and validation the company received from being on the show were invaluable. The show provided SmartGurlz with a platform to showcase their unique approach to education, which resonated with many viewers.
The appearance on Shark Tank also attracted the attention of potential investors and partners. For instance, the collaboration with Pitsco Education to create SmartBuddies could be attributed to the visibility gained from the show. Therefore, even without securing the deal, Shark Tank played a crucial role in shaping the company’s future.
The journey of SmartGurlz post-Shark Tank is a classic example of an entrepreneur’s determination and resilience. Despite the deal falling through, Albrechtsen continued to push forward, resulting in the company’s impressive growth and expansion. This demonstrates that success is not solely dependent on investment deals but on the entrepreneur’s resolve to overcome challenges and keep moving forward.
Smartgurlz’s Product Line: What They Offer Now
SmartGurlz has revolutionized the way girls engage with technology. The company’s unique product line combines play with education, instilling a love for science, technology, engineering, and mathematics (STEM) from a young age. The products have been designed with the aim to bridge the gender gap in these fields.
The flagship product of SmartGurlz is a range of dolls that come with self-balancing robots. These dolls, called Siggy Robots, can be controlled through an app, introducing girls to the world of coding in a fun, engaging way. The app, SugarCoded, offers a range of missions and challenges that teach coding principles while the girls play.
Furthermore, SmartGurlz has branched out to create Smart Buddies. This is a joint venture with Pitsco Education, aiming to make coding accessible to all elementary school students. The Smart Buddies program includes a diverse set of characters and is accompanied by an online curriculum.
In a significant move, SmartGurlz has secured a licensing deal with Sinking Ship Entertainment. This agreement allows the company to create dolls based on characters from the popular PBS show, Odd Squad. This partnership has not only widened their product range but also provides a unique way to engage their target audience.
As of June 2024, SmartGurlz products are currently out of stock. However, the company’s commitment to promoting STEM education among girls remains strong. Despite some slowdown in their operations, the impact that SmartGurlz has made in the world of education is undeniable.
Conclusion
SmartGurlz’s journey from Shark Tank to becoming a force in the field of STEM education for girls is nothing short of inspiring. The company has shown how innovation and determination can lead to success, despite challenges along the way.
SmartGurlz’s products have made a significant difference in how girls perceive and engage with technology and STEM. The combination of play and learning has proven effective in making these traditionally male-dominated fields more accessible and appealing to girls.
Even though there has been a slowdown in the company’s operations recently, the impact of SmartGurlz continues to be felt. The company has successfully instilled a love for coding and STEM in thousands of girls, shaping the future innovators of the world.
SmartGurlz’s story is a powerful reminder of how entrepreneurship, when combined with a passion for making a difference, can lead to transformative change. It is a testament to the power of innovative thinking, resilience, and the courage to dream big.
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